LUSTRUM INVESTMENTS LIMITED

• ⚠

  Annual accounts overdue

  Due 2025-12-29.

• ⚠

  Material uncertainty over going concern

  We draw attention to note 1.2, of the financial statements concerning the company's ability to continue as a going concern which indicates that the company has net current liabilities of £68,242 at 31 March 2024 (2023 - £757,558). The Company is reliant on the ongoing support of its parent, Armatire Limited, and significant shareholder however this support is itself dependent on a number of other events which are themselves uncertain. These events or conditions, along with the other matters as set forth in the note 1.2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  —

  Not reported

• Cash

  +229.6%

  £36,413 → £120,000

  highest in 3 filed years

• Net assets

  +91%

  -£757,558 → -£68,242

• Employees

  —

  Not reported

• Profit before tax

  -11,135.5%

  -£37,799 → -£4,246,897

  lowest in 3 filed years

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102 §1A

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Mercer & Hole LLP

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“We draw attention to note 1.2, of the financial statements concerning the company's ability to continue as a going concern which indicates that the company has net current liabilities of £68,242 at 31 March 2024 (2023 - £757,558). The Company is reliant on the ongoing support of its parent, Armatire Limited, and significant shareholder however this support is itself dependent on a number of other events which are themselves uncertain. These events or conditions, along with the other matters as set forth in the note 1.2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Significant events

• “During the financial year, the terms of a loan with a related party were renegotiated such that the interest, including historic accrued interest, was no longer payable on the loan. As a result all interest previously accrued, totalling £8,087,984, has been debited to the Profit and Loss account.”
• “On 13 July 2021, amounts totalling £119,573,542 were formalised into an interestbearing loan. During the year, the agreement was amended to defer repayment of all tranches to a final maturity date of 13 July 2027 and to reduce the interest rate on Tranches A, B and C from 6% to nil, applied retrospectively. As a result, all previously accrued interest has been reversed in the year, giving rise to a £4.9 million credit to equity due to a related-party transaction with the shareholders outside the Group.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.